Income Tax Return (ITR) is a form which a person is required to submit to the Income Tax Department of India. It contains information about the person’s income , source of income and the taxes to be paid on it during the year. Information filed in ITR should pertain to a particular financial year, i.e. […]
The two registrations issued by the Income Tax Department to NGOs are 12A and 80G, which allow organizations to be tax exempt and allow contributors to have deductions on their donations. A 12A and 80G registered non-profit is more likely to acquire lucrative financing and other tax breaks. In the form of a Charitable Trust/Society/Section […]
What is the provision of waiver of late fee of GST? GST council by notification waived off the GST Late Fees Reduction on the filing of GSTR 3B for all the taxpayers following are the conditions which need to be fulfilled. . If the return is required to be filed with tax and the […]
Why one should not miss ITR filing Due Date As per the provisions of the Income Tax law Income tax returns need to be filed within the due date. However if return is not filed within the due date mentioned than penalty is levied upon for not filing the return within the prescribed time limit. […]
Income tax is a type of tax charge by the government on the basic income earn by an individual or business during a financial year. It is a source of revenue for the government. The funds collect from this are use for public services, pay government obligations and provide goods and services for citizens. […]
